The US central bank is sticking to the “higher for longer” interest rate scenario factored into financial markets,while downplaying the prospect of widely feared rate hikes.
Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials to gain the “greater confidence” needed for them to kick off interest rate cuts.
If Donald Trump regains the US presidency,his policies will clash with the Federal Reserve Board’s key mandate of providing price stability.
The key question for investors is whether this is just a correction in what has been quite an ebullient market – or something more threatening.
The Australian sharemarket retreated in late trading to finish in negative territory for the fifth consecutive session despite making up some of the ground it had lost over the past week.
Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
Joe Biden’s hopes of staying in the White House have been dealt a further blow with the release of economic numbers that also sent shivers through Wall Street.
Jamie Dimon is one of the most powerful people in the world. His annual letter to shareholders contains an alarming scenario. Australia would not be immune.
Global supply chains don’t have as much slack as they did,say,last summer,after pandemic disruptions were mostly a thing of the past,because Baltimore isn’t the only problem.
Technology and mining stocks dragged the ASX lower after US equities slammed into reverse.
The Australian sharemarket rallied on the back of gold miners,banks and real estate investment trusts as US stocks moved higher.